PARTNERSHIP DISPUTE RESOLUTION
John F Kennedy rightly said, “Unconditional war can no longer lead to unconditional victory. It can no longer serve to settle disputes... can no longer be of concern to great powers alone.”
Leaving disputes unresolved would only be considered TO MAKE A MOUNTAIN OUT OF MOHALI. Once upon a time, there were two friends who mutually agreed to work together as business partners. Mr. Ajay and Mr. Prateek running a toothpick business situated at Noida, sector 18 as business partners from the last three years.
As every business undergoes ups and downs which gradually leads to disputes, similar things took place in this business as well.
Mr. Ajay and Mr. Prateek were sharing an equal proportion of profits, to which Ajay claimed the partnership to be unfair as he had more workload and does work more efficiently and carries a heavy burden with regard to business. On the other hand, Mr. Prateek stating that no such deed with regard to workload was made while entering into the partnership, thus pointing the objection to be on baseless terms. The division of work as per the onus must be the paramount consideration.
The only mission and vision were to meet the desired goal of the business. That's when the conflict began. Mr. Ajay started shirking with the duties he performed then. The result of the dispute was that the business started sinking. They didn’t bother to discuss the reasons their business was drowning.
The output was relatively low. Even after observing the gradual downfall, either the parties did not find ways to come to a consensus. Now it was not about money but ego. Both the partners were not ready to have a conversation. They both expected the other party to first apologize. They would either scream at each other and not listen to others or simply avoid conversation. The concept of the Audi altered part was simply ignored.
It was clearly observed that the partners were undergoing a breach of fiduciary duty, as they neglected the part of the duties/ roles assigned thereto. The business was hardly making any profit which gradually started drowning and faced tremendous loss. Wherein the losses faced were soon turning unbearable.
That was the time when the business needed a proper outlook and the areas of improvement. Mr. Ajay who took more burden of work and produced assets for the business couldn’t see the business dissolve out of insolvency or too much bearing of losses. He heard about the PRIVATECOURT which uses outs of the court settlement tools to resolve the disputes through negation, mediation, arbitration, and other dispute solving tools (ADR). They didn’t want to approach the court for the same. Mr. Ajay thought of seeking aid from the private court for the same. Now the question in fact was how to convince Mr. Prateek to seek help from the Private Court? After long arguments and others urging them to seek help from the private court, the partners agreed though they didn’t keep ego aside. The rage of fire was clearly visible in the eyes as they didn’t even want to look at each other's faces.
When they tried seeking help from the private court, the surrounding was all heated up. They started putting fake allegations on each other. They screamed and shouted and were not ready to talk. Privatecourt being very professional at their work used different kinds of dispute resolving tools to resolve the issue
The partners took the help of mediation and other dispute resolution tools. It was because of the dispute resolution that was provided by the PrivateCourt , that the workload of both the partners were considered and were advised to divide the profit-sharing ratio accordingly for the same. Negotiation followed by mediation, helped them find ways to come to a consensus.